Erdogan: Trade volume between Turkey, Colombia to reach $5bn

Turkish president says Colombia is one of Turkey’s most important trade partners in Latin America and Caribbean

Turkish president says Colombia is one of Turkey’s most important trade partners in Latin America and Caribbean

BOGOTA - Trade volume between Turkey and Colombia will rise to $5 billion by 2023, Turkey’s President Recep Tayyip Erdogan said during a speech at the Turkey-Colombia business forum in Bogota Tuesday.

At the event, which is part of the Turkish president's official vist to Colombia, Erdogan said that Colombia was one of Turkey’s most important trade partners in Latin America and the Caribbean, adding that the current $1.4 billion trade volume was significantly low.

Erdogan spoke of how Turkey’s economy had developed within the last 12 years, reminding of investments in highways, airports and bridges and added that Colombia also had great potential since it has a dynamic population and is rich in natural resources.

“All these investments are based on trust and stability,” Erdogan said. “If you trust investors and entrepreneurs, they will come and invest.”

Erdogan stated that there were no Colombian investments in Turkey, while three Turkish companies operating in Colombia had investments worth about $220 million.

A Turkish construction company is currently undertaking a railway project in the northern Colombian city of Ipiales. 

Colombian President Juan Manuel Santos Calderon invited Turkish businessmen to invest in his country and said he believed Turkish companies would do good work in the construction sector.

“Turkey is a country that achieved great success in recent years,” said Calderon. “The country has realized phenomenal growth.”

Calderon said Colombia will evaluate its opportunities to strengthen relations with Turkey.

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